J&K Bank Q2 result: Profit climbs 10.6% to ₹546 cr, asset quality improves

Jammu and Kashmir Bank on Thursday reported a 10.6 per cent rise in net profit to Rs 546.36 crore for the second quarter ended September 30, driven by earnings growth and improvement in asset quality.

The bank earned Rs 494.11 crore net profit in the year-ago period.

Sequentially, its profits surged 28.8 per cent from Rs 424.18 crore in the first quarter of the current fiscal year, a bank spokesperson said.

The bank announced the financial results after its Board of Directors reviewed and approved the quarterly and half-yearly figures at a meeting held at its corporate headquarters here on Thursday.

Its net interest income rose 5 per cent during the quarter to Rs 1,502 crore.

The lender's other income more than doubled to Rs 314.90 crore from Rs 153.76 cr a year ago.

For the first half of the current fiscal year, the bank's operating expenditure grew 1.5 per cent, and its operating profit rose over 15 per cent to Rs 1,492 crore.

The cost-to-income ratio stood at 56.57 per cent fo